August 25, 2021 at 5:00 PM - Finance Committee Meeting
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1. Call Meeting to Order and Record Attendance
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2. Discussion Items
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2.1. Discuss and Define Budget Goals
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2.2. Discuss equalization aid, state aid formula and other funding sources
Public Information:
Lynn explained to the committee how equalization aid is derived and how the state aid formula works, noting that the formula generated additional dollars for RC this year but that some of those will likely not be retained moving into future years. It was noted that typically local property taxes account for upwards of 72% of our resources. The increase in state aid is $564,387 this year and that is largely due to the base funding mechanism in addition to new student growth allowance.
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2.3. Discuss the budgets for all of the funds
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3. Adjournment
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